The American Cancer Society stated that in 2014 about 237,000 women and 2,200 men were diagnosed with breast cancer and nearly 465 men and 41,211 women in the U.S. succumbed to breast cancer. Breast cancer is the most common type of cancer, excluding non-melanoma skin cancer, among women in the U.S. Predictive gene testing is also known as presymptomatic testing. Considering the fact that this test is completed even before the early signs of the disease or disorder are yet to observed and thus enable determining person’s risk of suffering disorder or disease. Predictive breast cancer gene testing is done to identify the risk of developing the cancer in a person having a family history of this disease. Earlier detection of breast cancer helps to completely cure the patient and save the affected breast. Since the advantages of early detection of breast cancer, governmental and non-governmental organizations around the globe have started taking initiatives to spread awareness regarding the disease and early detection techniques available in their respective territories. Increasing prevalence of breast cancer is a major concern for governments that is encouraging them to conduct awareness programs to reduce the mortality rate of caused by the disease.
Increasing incidence of breast cancer globally and initiatives taken by governmental organizations to reduce morbidity rate caused by breast cancer are factors driving the predictive breast cancer genetic testing market. However, acquisition of small market entrants by leading market players, high initial capital investments, and strict government regulations for predictive breast cancer genetic tests restrain the predictive breast cancer gene testing market.
The global predictive breast cancer genetic testing market can be segmented into patient type, end-user, and geography. Based on patient types, the predictive breast cancer genetic testing market can be divided into family history, age group, and gender. Family history is taken into consideration due to people having breast cancer in their family are at higher risk of developing breast cancer. According to the American Cancer Society, around 13% patients diagnosed with breast cancer have a family history of this disease. According to a survey conducted by the University of North Carolina, around seven percent women are diagnosed with breast cancer under the age of 40. Prevalence of breast cancer is higher in women who are in age group between 40 and 55. Being a women is the strongest risk factor for breast cancer, though rare men also are risk of breast cancer. According to the Canadian Cancer Society, in 2015 around 220 men were diagnosed with breast cancer in Canada. In terms of end user, the predictive breast cancer genetic testing market is segmented into clinical laboratories, cancer hospitals, research laboratories.
Based on geography, the predictive breast cancer gene testing market can be segmented into North America, Europe, Asia Pacific, and Rest of the World. North America dominates the predictive breast cancer gene testing market followed by Europe. Growing awareness regarding breast cancer among the adult population and availability of sophisticated technologically and advanced treatment options are factors propelling the market in these regions. According to the Canadian Cancer Society, approximately 1,175 new breast cancer cases are likely to be diagnosed in women under the age of 40, representing nearly 5% of all new breast cancers and nearly 3,300 new cases of breast cancer are expected to be diagnosed in women between the ages of 40 and 49, representing about 13% of all new breast cancers in 2017. Asia Pacific is one of the most promising regions for the predictive breast cancer gene testing market as the region is developing rapidly. Emerging economies and easy market penetration in developing countries in Asia are projected to drive the predictive breast cancer gene testing market in the near future.
Key players operating in the predictive breast cancer gene testing market are Myriad Genetics, Inc., Complete Genomics Incorporated, Ambry Genetics, PreventionGenetics, and Illumina, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.